Market Overview

UPDATE: Wunderlich Securities Reiterates Hold Rating, Raises PT on EOG Resources on New Wolfcamp Discovery

Related EOG
These ETFs Should Like The Apache Takeover Rumor
Watch Out, Barclays Is Still Negative On E&P Stocks
Do Estimated U.S. Oil Job Layoffs Point To Weakening Industry Outlook? (Seeking Alpha)

In a report published Friday, Wunderlich Securities reiterated its Hold rating on EOG Resources (NYSE: EOG), and raised its price target from $132.00 to $135.00.

Wunderlich Securities noted, “EOG Resources (EOG) ended 2012 with 1.8 billion boe of proved reserves with a liquid mix of 56%. While EOG incurred significant financial and natural gas writedowns in 2012 and downsized its Canadian presence, we believe the company is off to a good start in 2013, focusing on its oily assets in the U.S. The company plans to spend $7-$7.2 billion and grow production by 4%, with oil growing at 28%, liquids at 23%, and gas shrinking by 15%. Most of the spending will be allocated to the Bakken and the Eagle Ford, the two best oil plays.”

EOG Resources closed on Thursday at $133.33.

Latest Ratings for EOG

Nov 2015Raymond JamesDowngradesOutperformMarket Perform
Nov 2015BarclaysMaintainsOverweight
Sep 2015CitigroupMaintainsNeutral

View More Analyst Ratings for EOG
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Price Target Analyst Ratings


Related Articles (EOG)

View Comments and Join the Discussion!

Get Benzinga's Newsletters